CD Projekt Has Surpassed Ubisoft to Become Europe's Most Valuable Video Game Company
The CD Projekt Group — which includes The Witcher III: Wild Hunt developer CD Projekt Red and digital distribution platform GOG — skyrocketed again on Monday, officially surpassing Ubisoft to become the most valuable video game company in Europe. You read that right, the award-winning company that gave us the The Witcher trilogy is currently larger than the French tech giant in terms of market capitalisation.
At the time of this writing, Ubisoft is worth PLN 35,6 billion (€7,82 billion), while CDP's market value is estimated at PLN 36,5 billion (€8,01 billion). Although it's a huge achievement, it's important to remember that CDP posted PLN 521 million in revenues and PLN 175 million in net profit in 2019, while Ubisoft generated €416.2 million (PLN 1,89 billion) in revenue in the third quarter of the fiscal year 2019 alone.
Considering that the French publisher is planning to release five big-budget productions this fiscal year — namely, Watch Dogs: Legion, Gods & Monsters, Tom Clancy's Rainbow Six: Quarantine, Assassin's Creed: Valhalla, and a yet-to-be-revealed title (reportedly a new Far Cry game), it's safe to say that the strength of Ubisoft's biggest brands (and new IP) will translate into an impressive performance throughout the year.
As a reminder, CDP is also the most valuable Polish company, with the country's second-biggest firm PKO Bank Polski still struggling to recover from the economic damage caused by the coronavirus pandemic.
With CD Projekt Red's long-delayed Cyberpunk 2077 finally releasing for PlayStation 4, Xbox One, Google Stadia, and PC (via GOG, Steam, and the Epic Games Store) on the 17th of September, chances are that the company will manage to break many more records on the Warsaw Stock Exchange in the coming months.
Cyberpunk 2077 is not the only title in the works at CD Projekt Red, as the studio is also developing a new game and at least two post-launch DLC for its sanbox extravaganza. According to the company's CEO Adam Kiciński, the team will start working on Cyberpunk 2077's online mode once the base game goes gold.